A CNN/Opinion Research Corp. poll found that 41% of respondents plan to use their rebates to pay off bills, and 32% will put the money in savings. Just 21% of those polled intend to spend the money, while 3% said they will donate the extra money to charity.

If 32% intend to put the money into savings (in a bank) that would give the banks $40 billion new deposits (32% of $120b). The banks could then lend $400 billion or so thanks to fractional reserve banking.